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Weyerhaeuser Sells Uruguay Timberlands, Manufacturing Business to BTG Pactual

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Weyerhaeuser Co., Seattle, Wash., USA, this week announced completion of the sale of its timberlands and manufacturing business in Uruguay to a consortium led by BTG Pactual's Timberland Investment Group (TIG) for $402.5 million in cash. The company expects it will incur minimal taxes in conjunction with the sale.

The transaction includes more than 300,000 acres (120,000 hectares) of timberlands in northeastern and north central Uruguay, as well as a plywood and veneer manufacturing facility, a cogeneration facility, and a seedling nursery.

"The TIG consortium is acquiring a unique combination of high-quality timber and manufacturing assets and gaining an exceptional team of highly-skilled employees," said Doyle R. Simons, president and CEO. "I want to thank the employees of the Uruguay team for continuing to operate safely throughout the strategic review process and for their contributions to Weyerhaeuser over the years."

Weyerhaeuser, a real estate investment trust and one of the world's largest private owners of timberlands, began operations in 1900. It owns or controls nearly 13 million acres of timberlands in the U.S. and manages additional timberlands under long-term licenses in Canada. The company manages these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. Weyerhaeuser also is one of the largest manufacturers of wood products. In February 2016, it merged with Plum Creek Timber Co. In 2016, the company generated $6.4 billion in net sales and employed approximately 10,400 people who serve customers worldwide. 
 
 

 

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